Ontario's 2013 Budget — A Prosperous and Fair Ontario — makes smart investments that will strengthen the economy, helps create jobs for youth and takes action to eliminate the deficit by 2017-18.
The 2013 Ontario Budget proposes a prosperous and fair Ontario by:
The deficit for 2012-13 is now estimated to be $9.8 billion — a $5.0 billion improvement compared with the 2012 Budget forecast. The fiscal year just ended marks the fourth year in a row that the province has reported a deficit lower than forecast — the only government in Canada to achieve this level of success. Program spending growth is projected to be less than one per cent for the second year in a row.
In addition to beating the deficit target for 2012-13, the province is projecting an improvement of more than $1.0 billion from the $12.8 billion deficit projected in the 2012 Budget for 2013-14. Program spending in 2013-14 is unchanged from the 2012 Budget projection. Beyond 2013-14, the government is on track to meet the steadily declining deficit targets outlined in the 2012 Budget and achieve a $0.5 billion surplus in 2017-18.
Working with key partners, the government is laying out a six-part economic renewal plan that will help Ontario's economy seize new opportunities for growth and job creation:
The new government will also continue to take steps to provide more supports for Ontario families. It will improve opportunities for Ontario's Aboriginal people, protect the most vulnerable, and build safer and stronger communities.
Ontario's 2013 Budget will build a fair and prosperous Ontario for the benefit of all.
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